What are the macroeconomic consequences of changing aggregate lending standards in residential mortgage markets, as measured by loan-to-value (LTV) ratios? In a structural VAR, GDP and business investment increase following an expansionary LTV shock. Residential investment, by contrast, falls, a...

Housing markets of large cities around the world, particularly in so-called developing and emerging countries, are currently experiencing a clash: On the one hand, large numbers of labour migrants arrive from rural areas and need cheap rental housing. On the other hand, international real estate...

Migration policies need to consider how immigration affects investment behavior and productivity, and how these effects vary with the type of migration. College-educated immigrants may do more to stimulate foreign direct investment and research and development than low-skilled immigrants, and...

Background: Individual decision-making largely influences the effectiveness of decisions and benefits of investments. Methods: In this article, a consensus model for group decision-making (GDM), based on the analytic hierarchy process (AHP), is developed to gather group ideas and analyze the...

Recent empirical research has shown that income per capita in the aftermath of natural disasters is not necessarily lower than before the event. Income remains in many cases not significantly affected or, perhaps even more surprisingly, it responds positively to natural disasters. Here, we...

The natural environment is one of the factors of development activities location. The quality and availability of natural values influences bid prices of flats. The availability of ecosystems of special qualities such as rarity and uniqueness is not a desirable feature for potential buyers. This...

Recent empirical research has shown that income per capita in the aftermath of natural disasters is not necessarily lower than before the event. In many cases, income is not significantly affected and surprisingly, can even respond positively to natural disasters. Here, we propose a simple...

We used nine waves of the Bank of Italy’s Survey on Household income and Wealth (1995-2012) to investigate a possible trade-off between homeownership and individual participation in a supplementary pension scheme. Italy lends itself to this type of investigation because the Italian public...

Phan, Tuan - Crawford School of Public Policy, Australian National … - 2014

This paper compares the output composition of the monetary policy transmission mechanism in Australia to those for the Euro area and the United States. Four Vector Autoregressive (VAR) models are used to estimate the contributions of private consumption and investment to output reactions...

PAK policy is one of the important policies that has been adopted in housing market during the two recent decades. It mainly focuses on saving, development and downsizing. Now given that housing can be considered both as a capital and an expendable property and it has unique characteristics such...